Medvedev: Russia will become one of the three largest shareholders ABII


GORKI, November 16. After the ratification of the agreement establishing the Asian infrastructure investment Bank (AIIB) Russia will become one of the three largest shareholders, and participation in the AIIB would enable the country to raise funds for projects in the far East and strengthen relations with Asia Pacific countries. This was stated at a government meeting Russian Prime Minister Dmitry Medvedev.

“We consider today the ratification of the articles of agreement establishing the Asian infrastructure investment Bank. After the adoption of the document, our country together with other countries, along with China and India, will be one of the three largest shareholders of the Bank”, – said the head of the Cabinet.

The Prime Minister recalled that the Bank’s authorized capital is $100 billion, members ‘ contributions to it are made in equal installments over the next five years.

“Russia’s participation in this project will allow the Bank to raise funds in order to implement investment projects in our country, primarily in the far East and Eastern Siberia, and, of course, will contribute to the strengthening of relations with States of the Asia-Pacific region, which for us is now very important issue”, – concluded Medvedev.